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Hello Finances

Mother and Daughters Cooking

Family  Life & Finances

"The Family with a Corporate Vision"

Corporations start the year off with the vision and goal statement for the year. The purpose is to make money.   

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You and your family should have the same financial statement.  Grab the kids and sit down in the Kitchen, Dining Room, or the Family Room.  

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Grab a notebook, and write the vision and make it plain.  Make plans for the year that include family getaways, saving for major and minor purchases, birthdays, Christmas, College, or Special Projects for the home or school.  

 

Whatever it is, put it on paper, and develop the Family Financial Vision & Goal Statement. 

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Set Up The Family Financial Planning Board

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  1. Everyone is appointed a position on the Board. 

  2. Identify your Family Vision for the year.

  3. Next, begin to identify the goals to get there.

  4. Next map out the goals in increments, such as 1st Quarter, 2nd Quarter, 3rd Quarter, 4th Quarter.

  5. Have Fun!

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Family with Tablet
Communicating

The Family Financial Planning Project Management

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Now that you have identified the Family Financial Vision and Goals for the year, it is time to create the Family Financial Project Plan.

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  1. Think out the box,  on how to meet your financial goals.  Do you need a Family Side Hustle?

  2. Track your family spending for the first 2 weeks.  Do not change your spending habits, yet.  After the 2 weeks,  sit down with all your receipts, and as a family identify the family spending trends. You can begin, to identify the areas that the family, as whole, can reduce.

  3. Next, create a family budget plan.  There are lot of different sources online.

  4. Create an emergency fund for the family.  Let the family decide on the emergency fund goal. This will make each family member feel that their opinion matters. 

  5. Decide on a long term Savings & Investment Plan that will go beyond this year.  

  6. Parents, do the same Project Plan outside of this plan, to clear any debts

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